Johnson & Johnson talc unit receives extension of exclusive periods

By Sarah Lizee

Olympia, Wash., March 9 – Johnson & Johnson subsidiary LTL Management LLC received an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of New Jersey.

The exclusive plan filing period was extended through April 14, and the exclusive solicitation period was extended through June 14.

If the debtor files a plan on or prior to April 14, the talc claimants committee will have 15 days from when the plan was filed to file a motion seeking authority to permit the committee to file a competing plan.

As previously reported, the U.S. Court of Appeals for the Third Circuit has called for the dismissal of LTL’s bankruptcy case.

LTL has filed a petition for rehearing on the matter.

Johnson & Johnson is a consumer products company based in New Brunswick, N.J. The LTL Management subsidiary filed Chapter 11 bankruptcy on Oct. 14, 2021 under case number 21-30589.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.